It takes
time and commitment – but it’s not impossible. Here are some principles for
growing your wealth:

Live within your means You can’t grow wealth if you
overspend. The ability to grow wealth depends on having assets rather than liabilities.
Take the time to get your finances on track by paying down debt and earning more than you spend.

Take calculated risks Without taking some risk with your
portfolio (and with the help of a trusted financial advisor), you will be
unlikely to earn the sort of interest that results in long-term wealth. The
yield on your protected savings account won’t be enough to build wealth
over time. Take a risk or two if you want to see solid progress.

Spend smartly It’s possible (and important!) to
enjoy life and quit the penny pinching once in a while. The trick is to be
smart about it. Get the best value for your dollar. Keep things well
maintained. Balance your needs against your wants.

Invest in yourself Improve your skills so that you are
more marketable and can qualify for a raise or promotion. Learn the
basics of business and start a side biz. Learn more about how money works to increase your
knowledge and help build wealth.

Give back Many financial experts point out
that giving is part of a well-rounded financial life. If you make giving a priority you are more likely to manage
your finances so that you have enough to accomplish your
goals.

Save serious money on your wedding with Tightwad!

guest posts + frugal tips

Tightwad is always interested in new points of view and information related to personal finance or frugal living. If you are interested in writing a guest post, want a post featured or have a thrifty tip to share, please send your ideas and articles to tightwadblog@gmail.com. Your idea (and you!) will be featured.